What's on your mind?
- In response to an increasing emphasis on risk management, there is a requirement on insurers to enhance their abilities to quantify risk and embed risk management into business operations
- There is increasing pressure for multi-dimensional reporting, with Boards, regulators and financial markets all expecting more robust information, pricing models and assumptions, delivered more quickly than before
- Available capital needs to be used as efficiently as possible, while balancing regulatory requirements for measuring 'risks' and liabilities and holding capital for future events
- With Solvency II on the horizon, implementation programmes and internal models will need to be in progress and in place by 2012
Bringing you peace of mind
Our European actuarial team has over 350 actuaries, with 200 based across the UK in London, Edinburgh, Gatwick, Bristol and Manchester. We can help insurers across a number of areas:
- Risk and Capital Management
Enhancing the understanding and management of risks and cost of capital and developing business operations to meet current and future business needs. Of particular focus is designing and implementing Enterprise Risk Management (ERM) Frameworks, and extensive Solvency II assistance for our clients
- Process and Model Improvement
Assisting in improving the organisation and governance of the actuarial function, of better controls, and Fast Close reporting. More specifically, we provide extensive experience in model rationalisation and process improvement
- Transactions and Restructuring
Advising on innovative strategies to restructure capital and manage risk. In assisting with the buying and selling aspects of transactions, executing business transfers, disposing of non-core businesses or acquiring other businesses, and providing litigation support
- Financial Reporting
Helping clients to understand and implement new financial reporting requirements, including IFRS and Embedded Value reporting, and providing assurance and advice on reserving issues
What's in it for you?
Clients benefit through better business operations, for example via:
- Improved sustainable profitability through well-informed investment, pricing and product development decisions
- Increased efficiency of capital through better steering and planning with greater transparency on the link between risk and return
- Lower costs through risk management systems being closely aligned with business needs, facilitating business decisions consistent with business and risk strategies
- Integrate capital, performance and risk management to help, for example, your economic capital models to pass the regulator's 'ORSA' and 'Use Test', a reduction in regulatory capital, improvement in rating results, and increased stakeholder satisfaction
- Manage the impact of litigation through the provision of independent expert witness services and litigation support
Why KPMG?
- Our expanding team of almost 200 actuaries across Europe has a core modelling capability of 50 specialists, which is one of the largest of any actuarial advisor
- Our actuaries are an integral part of our Insurance Advisory team, which includes specialists in risk, regulation, audit, performance management, tax and corporate finance
- We integrate our actuaries with financial and regulatory risk specialists to cover a very wide range of different risk types (e.g. credit, operational, fraud, market, group, regulatory), which is unusual and helps address a wide range of client needs
